Gwyneth Paltrow, the 50-year-old actress and businesswoman, has an Academy Award, a Golden Globe Award, and a Primetime Emmy Award to her name. She is also the founder and CEO of Goop, the modern lifestyle brand founded in 2008. Goop has brought an array of revolutionary products with interesting and unorthodox names that sell for a premium price. In 2019, Goop made over $250 million in revenue. With Paltrow as a 30% stakeholder, she is extremely wealthy and is a driving force behind the company’s outlandish innovations and success.
How much money has Gwyneth Paltrow earned from Goop?
With Iron-man, Avengers, and a host of many A-list movies to Paltrow’s name, the opulent star has and continues to earn millions. According to Forbes Magazine, she has earned a whopping $19 million for her role as Pepper Potts, Tony Starks partner. Apart from this, she has made $10 million from View From The Top and $750,000 for her Oscar-winning performance in Shakespeare in Love.
In a conversation, Gwyneth Paltrow shared her opinions on the controversies behind Goop:
“They thought I was insane and were up in arms. Now look: It’s a billions of dollars market. I don’t care about the haters. They are irrelevant to me. It’s like Brené Brown says: ‘I’m not making this work for people who aren’t in the arena.’ Haters don’t mean anything because they are not my people.”
While $19 million isn’t ‘petty cash’, it does seem so in contrast to how much she made from Goop. Despite the controversy around the brand, it raised $50 million in its C-funding round and, $53 million in the D-funding round, taking the company to a $250 million valuation. Out of which, Paltrow owns 30%, making her viable to $75 million. According to Celebrity Net Worth, her successful avenues in business, real estate, film, and books, grant her an astounding net worth of $200 million.
Gwyneth Paltrow and an overview of Goop
Goop initially started as a nutritional newsletter back in 2008, this was when it was just a humble personal project. Around the same time, Iron man 1 was a super success, while Goop had garnered 150K followers by 2009.
After 6 years of informational subscription, Paltrow decided to steer Goop into E-commerce. This is when the brand was more of a lifestyle company, as it sold Vitamin supplements, Fashion apparel, and upholstery. These daily-use products were infused with marketing strategies with a very steep price point.
This continued until 2018 when controversies started to conjure as Goop transitioned from lifestyle to wellness. During this time, the company had to settle a $145,000 lawsuit for a product ‘v*ginal egg’ which was meant to ‘control hormones and increase bladder control’. This is when Goop had to admit that these products were not guaranteed to work.
Along with this, Goop had issues with NASA as they sold products with NASA’s patented technology to balance energy frequencies in the body. Another strange product ‘The v*gina-scented candle’ was involved in a $5 million lawsuit as the candle had allegedly exploded. Although Goop is in a ‘soup’, the company still thrives in the market and continues to drive sales. As they are a private company, its sales aren’t disclosed.
The actress’s career in business is just as interesting and controversial as her acting career. Her brand stirs a great deal of controversy due to its ridiculously high-pricing strategy and strange products, which Gwyneth Paltrow has swiftly leveraged to boost sales for Goop. Her determination and dexterity are the driving force behind the company’s success in recent years.
Source: Cosmopolitan
